Guideline Value for Bharath Rajiv Gandhi Nagar 8th Street

Bharath Rajiv Gandhi Nagar 8th Street guideline value

The current guideline value of Bharath Rajiv Gandhi Nagar 8th Street is Rs 3,300 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharath Rajiv Gandhi Nagar 8th Street has changed

The guideline value for Bharath Rajiv Gandhi Nagar 8th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Bharath Rajiv Gandhi Nagar 8th Street.

• Bharath Rajiv Gandhi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Rajiv Gandhi Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your specific property details.

Which Sub Registrar Office covers Bharath Rajiv Gandhi Nagar 8th Street?

The Sub Registrar Office that covers Bharath Rajiv Gandhi Nagar 8th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Bharath Rajiv Gandhi Nagar 8th Street?

The current guideline value of Bharath Rajiv Gandhi Nagar 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification for Bharath Rajiv Gandhi Nagar 8th Street?

Bharath Rajiv Gandhi Nagar 8th Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Bharath Rajiv Gandhi Nagar 8th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.